Verition Fund Management LLC Sells 43,411 Shares of Fox Co. (NASDAQ:FOXA)

Verition Fund Management LLC cut its stake in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 79.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,068 shares of the company's stock after selling 43,411 shares during the quarter. Verition Fund Management LLC's holdings in FOX were worth $469,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Pacer Advisors Inc. grew its position in FOX by 44,205.3% in the 3rd quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company's stock valued at $335,066,000 after buying an additional 7,897,710 shares during the last quarter. Retirement Systems of Alabama raised its holdings in FOX by 1,727.2% in the 2nd quarter. Retirement Systems of Alabama now owns 965,066 shares of the company's stock valued at $33,169,000 after acquiring an additional 912,250 shares during the last quarter. AXA S.A. lifted its holdings in shares of FOX by 294.2% during the 2nd quarter. AXA S.A. now owns 888,476 shares of the company's stock worth $30,537,000 after acquiring an additional 663,089 shares during the period. Independent Franchise Partners LLP increased its stake in FOX by 3.3% during the second quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company's stock worth $635,706,000 after acquiring an additional 597,450 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its stake in FOX by 25.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company's stock worth $83,208,000 after buying an additional 492,467 shares during the period. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Stock Up 2.8 %

Shares of NASDAQ FOXA traded up $1.27 during mid-day trading on Thursday, reaching $47.34. 4,106,179 shares of the company traded hands, compared to its average volume of 3,097,129. The company's fifty day moving average is $44.21 and its two-hundred day moving average is $39.90. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $47.58. The stock has a market cap of $21.62 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.21 and a beta of 0.77.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.12 by $0.33. The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.09 earnings per share. On average, analysts expect that Fox Co. will post 3.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FOXA. Evercore ISI raised shares of FOX to a "hold" rating in a report on Tuesday, November 5th. Macquarie restated a "neutral" rating and set a $43.00 price target on shares of FOX in a research report on Tuesday, November 5th. Cfra reiterated a "sell" rating on shares of FOX in a research report on Wednesday, September 25th. StockNews.com raised shares of FOX from a "hold" rating to a "buy" rating in a report on Friday, December 6th. Finally, TD Cowen raised their price objective on shares of FOX from $36.00 to $42.00 and gave the company a "hold" rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $44.00.

Insiders Place Their Bets

In other news, COO John Nallen sold 182,481 shares of the company's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the transaction, the chief operating officer now owns 249,424 shares of the company's stock, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. Insiders sold a total of 469,352 shares of company stock valued at $20,822,072 in the last quarter. Insiders own 21.77% of the company's stock.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.